President Bola Tinubu has told Nigerians that house rents in Nigeria will no longer attract the value added tax (VAT). This is a relief for property developers who have borne much of the VAT burden for years.
The president, who spoke recently in a nationwide broadcast to mark the second anniversary of his administration, hoped that removing VAT on rent would eliminate the burden of multiple taxation and make it easier for small businesses to grow and join the formal economy.
Tinubu’s tax incentive is part of the administration’s reforms w
